gasworld Business Intelligence provides you with the latest analysis of Linde’s Q3 2015 earnings reports.
Headlines
- Reported corporate sales growth eased back to +3% YoY in Q3, to €4.52bn.
- Gases growth also eased, but remained at over +7% in Q3 on reported basis, while on comparable basis growth was relatively solid at +2.5%.
- Engineering sales down YoY and at lowest level since early 2013, with order intake impacted by customer postponements.
- Gases account for around 80% of Linde corporate sales, with engineering nearly 20% and other businesses less than 2%.
- Reported corporate operating income up marginally by +1% (after adjusting for extraordinary charges) in Q3, with gases operating income remaining strong at up +12% vs a low quarter in 2014.
- Restructuring charge of €54m taken in Q3 as previously projected, after significant charges also taken as non-recurring item in Q1 and Q2 – again reduces operating income by over 10%. Charge predomiantly in engineering division in Q3 – only €28m in gases.
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